Top buy and sell ideas by Ashwani Gujral, Mitesh Thakkar, Prakash Gaba for short term

The S&P BSE Sensex, Nifty50, and Nifty Bank hit a fresh 3-year low amid the volatility seen in markets. The Nifty Midcap index closed at a 4-year low while India VIX jumped to a 12-year high. Sensex dropped 581 points to settle at 28,288 while the Nifty50 plunged 205 points to close at 8,263.

According to the pivot charts, the key support level for Nifty is placed at 7,872.18, followed by 7,480.92. If the index moves up, key resistance levels to watch out for are 8,615.08 and 8,966.72.

Nifty Bank closed 2.41 percent down at 20,083.50. The important pivot level, which will act as crucial support for the index, is placed at 18827.76, followed by 17572.03. On the upside, key resistance levels are placed at 21187.16 and 22290.83.

In an interview to CNBC-TV18, top market experts recommend which stocks to bet on for good returns:

Buy ITC with a stop loss of Rs 157, target of Rs 172

Buy Bharti Airtel with a stop loss of Rs 436, target of Rs 460

Buy Kotak Mahindra Bank with a stop loss of Rs 1190, target of Rs 1245

Buy HDFC Bank with a stop loss of Rs 880, target of Rs 935

Buy Infosys with a stop loss of Rs 535, target of Rs 570

Buy ICICI Prudential with a stop loss of Rs 274 for target of Rs 295

Buy Jindal Steel & Power with a stop loss of Rs 90 for target of Rs 100

Buy Reliance Industries with a stop loss of Rs 904 for target of Rs 945

Buy ONGC with a stop loss of Rs 59 for target of Rs 65

Sell Ashok Leyland with target at Rs 40 and stop loss at Rs 50

Sell Bharat Electronics with target at Rs 50 and stop loss at Rs 67

Sell Indiabulls Housing Finance with target at Rs 70 and stop loss at Rs 110

Sell IDFC First Bank with target at Rs 15 and stop loss at Rs 22

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​